Chapter 1 (Powerpoint)

Front 1

The collection of private, commercially oriented organizations ranging in size from sole proprietorships to corporate giants.

Back 1

Business

Front 2

A community, a nation, or a broad group of people with common traditions, values, institutions, and collective activities and interests.

Back 2

Society

Front 3

Business and society interrelate in a macroenvironment as ___________.

Back 3

Stakeholders

Front 4

What is the complete societal context in which the organization resides?

Back 4

Macroenvironment

Front 5

What are the four segments of the Macroenvironment?

Back 5

Social, Economic, Political, and Technological

Front 6

(Social, Economic, Political, and Technological)

What are the demographics, lifestyles, and social values?

Back 6

Social

Front 7

(Social, Economic, Political, and Technological)

What is the nature and direction of the economy in which business operates?

Back 7

Economic

Front 8

(Social, Economic, Political, and Technological)

What are the processes for the passing of laws and election of officials? Interactions between firms, politics, and government?

Back 8

Political

Front 9

(Social, Economic, Political, and Technological)

What are the changes in technological advancements taking place in society?

Back 9

Technological

Front 10

What is a diffusion of power among a society’s many groups?
Involves decentralization and diversity of power concentration.

Back 10

Pluralism

Front 11

Who are the individuals or groups with which business interacts and who have a vested interest in the firm?

Back 11

Stakeholders

Front 12

What is it called when development meets the needs of the present without compromising the ability of future generations to meet their own needs?

Back 12

Sustainability

Front 13

What has become one of businesses’ most pressing mandates?

Back 13

Sustainability

Front 14

Sustainability includes what?

Back 14

Enviormental, economic, and social

Front 15

What concerns businesses’ abilities to survive and thrive over the long term?

Back 15

Sustainability

Front 16

What refers to issues of right, wrong, fairness, and justice?

Back 16

Ethics

Front 17

What focuses on ethical issues that arise in the commercial realm.

Back 17

Business Ethics

Front 18

What questions permeate business’s activities as it attempts to interact with major stakeholder groups?

Back 18

Ethics

Front 19

What are issues or crises arise on the spur of the moment and management must formulate quick responses?

Back 19

Short term

Front 20

What are issues or problems are a long-term concern and management must develop a thoughtful organizational response?

Back 20

Long term

Front 21

What is the ability or capacity to produce an effect or to bring influence to bear on a situation or people?

Back 21

Business Power

Front 22

What is described by: In the long run, those who do not use power in a manner society considers responsible will tend to lose it?

Back 22

Iron law of responsibility

Front 23

What is a gap between societal expectations for social conditions and social realities?

Back 23

Social problem

Front 24

What creates a social problem?

Back 24

Revolution of rising expectations

Front 25

Growing public awareness through what?

Back 25

television, movies, and the Internet.

Front 26

What creates higher expectations of major institutions?

Back 26

Education